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Excellent news John, and thank you for making this work for them. They have done so much work so far, know they want to get there.

Let's discuss how to send this news eighth out to JP Morgan and Morgan Stanley via email?

Thanks Suzanne

Sent from my iPhone

On May 1, 2014, at 2:25 PM, "John DeLoche" <john@rstp.com<mailto:john@rstp.com>> wrote:

Just got off the call with NB. As expected, the process is moving too fast for them to commit this week. Brien Smith said they are 65% of the way through the process in their diligence on our fund. Balance will take them 2-3 weeks to get there on the fund commitment. Will know last week of May.

They LOVE the Counsyl deal and $5-$6mm would be their direct bite size.

We told them that is perfectly understandable and we want them to go through their full process. Shared that we are doing a first closing of the investment tomorrow but we will talk to management about holding a piece of the financing for them for later this month. We are confident management will agree to this.

This could end up being super positive as Counsyl's public profile will increase tremendously over the next two weeks due to the media tour they are launching Monday. We can also let JP Morgan , Morgan Stanley and others know that they have a little more time to do their work as they see all this positive press. There will be about $15 million available for direct investment after this first closing.

The net of it is we are in a great place with them so let's take advantage of this and close them and others in the coming weeks.

Best,

John


John DeLoche
Co-founder and Managing Director
Rosemont Seneca Technology Partners
333 Bush Street, 21st Floor
San Francisco, CA 94104
office: 415 767 1288
mobile: 415 793 7070

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